'No DTC Growth' May Not Be an Option
August 04, 06 by Chaim Even-ZoharIn the first half of 2006, the DTC sold some $3.252 billion worth of rough diamonds, which is barely one percent more than its sales in the first half of 2005; this is in spite of a 3.3 percent higher average level of prices over the comparable period last year. Diamdel failed to sell all the goods it “bought” from the DTC and is facing a build-up in stock (which is believed to equal some... Read More...
Operating Under Umbrellas
July 27, 06 by Chaim Even-Zohar“A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain.” This was the historical wisdom of Mark Twain. Twain has been dead for almost a century, but many – or at least some of us – are still convinced that Twain succinctly, accurately, and almost like a visionary, pictured the essence of a “banker” in one simple sentence. Read More...
Botswana’s 15% Stake in De Beers: To Sell or Not to Sell is Not the Question – The Timing Is!
July 20, 06 by Chaim Even-ZoharThe Botswana government is repeatedly asked whether it will sell its 15 percent shareholding stake in De Beers. Anyone closely following the governmental strategies towards diamond mining and diversification will come to the inevitable conclusion that Botswana will sell – and... Read More...
Is FinCEN’s AML/CFT Jewelry Rule Non-Compliant with International Standards?
July 13, 06 by Chaim Even-ZoharIn this column, we have lamented more than once that the anti-money laundering rules applicable to the diamond and jewelry industries are not harmonized. Every government interprets the basic 40 and 9... Read More...
A Singapore Jeweler’s Nightmare Scenario
July 06, 06 by Chaim Even-ZoharIt is quite unusual to write about a “money-laundering through diamonds” transaction that is still in progress, but the following article summarizes events related to a lawyer who is now very well known to residents of Singapore, the police, and participants in the diamond market there. Read More...
The Luxury of Dreams
June 29, 06 by Chaim Even-ZoharAt the World Diamond Congress, a suggestion was made to the major producers in attendance to reduce rough prices. Thank goodness the producers made it clear that they are not about to make such a move. Even a public “hint” that producers might lower prices would result in an instantaneous loss of billions... Read More...
Breakfast with Gareth Provides Food For Thought
June 23, 06 by Chaim Even-ZoharIn our industry, there are some “defining moments” – occasions one will come to refer to as the time “before” or “after.” A few seemingly off-the-cuff, but nevertheless clear and pointed, remarks made... Read More...
An Indian Summer in the United States
June 15, 06 by Chaim Eve-ZoharFreakonomics is the title of a best seller by “rogue economist” Steven D. Levitt who explores the hidden side of everything. Looking beyond conventional wisdom, he searches for linkages behind... Read More...
The New Emirate on the Schelde
June 08, 06 by Chaim Even-Zohar“Conjuring images of pristine sandy beaches adorned by lone palm trees, the offshore economy has been attracting attention recently. Offshore captivates our imagination with its contradictory promises: it is the last frontier, the last remaining truly exotic feature of the age of global capital. This is the domain of the ‘permanent tourists,’ a nomadic tribe of tax exiles floating between... Read More...
Did Diamdel Lose the Alexkor Production – or Just Give it Away?
June 01, 06 by Chaim Even-ZoharDid President George W. Bush initiate a major diplomatic change in policy vis-a vis Iran, or did he reluctantly agree to a diplomatic u-turn because he was "forced" to do so by his European partners? Read More...
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